Faith-Based Investors Act to Catalyze Katrina/Rita
Reconstruction Lending

No longer on the front pages, hard work of rebuilding continues

NEW YORK CITY//September 27, 2006/// In an effort to increase investments in the struggling Gulf Coast region, Jewish, Mennonite, and Catholic investors today called on the investment community to play a larger role in rebuilding homes and businesses after hurricanes Katrina and Rita.

The group, members of the Interfaith Center on Corporate Responsibility, released a set of opportunities for investors, clients, and customers of Gulf Region community development financial institutions.

"The cameras have moved on, but the slow work of rebuilding continues," said Jeffrey Dekro, Senior Vice President of the Jewish Funds for Justice. "The Jewish Funds for Justice have been investing in community-based financial institutions in the region and throughout the South for many years. Today, they need our nation's attention now more than ever before."

The report, available here, lists eight community development financial institutions in New Orleans, rural Louisiana, and Mississippi. It is not a comprehensive list of investing opportunities, but Dekro and his colleagues hope it will spur investors to do their own investigations and place funds to build desperately needed housing in the area.

"CHRISTUS Health has extensive experience on the ground in hurricane-hit regions, and we know the faith community is here for the long haul. We've fed, cared for, and cried with hurricane survivors. Now, they are rebuilding their lives and communities. We have a continuing obligation to stand with them," said Donna Meyer, Vice President for Community Health at CHRISTUS Health.

Mark Regier, stewardship investing manager at MMA, the investing arm of the Mennonite Church, said, "This set of opportunities is just the first step in our efforts to mobilize access to capital for the most vulnerable. Faith-based investors partnering with community-based financial institutions can rebuild houses, businesses, and lives, and do so in a suitable, environmentally responsible fashion."

ABOUT ICCR
ICCR is a thirty-five-year-old international coalition of 275 faith-based institutional investors including denominations, religious communities, pension funds, healthcare corporations, foundations and dioceses with combined portfolios worth an estimated $110 billion. ICCR members utilize religious investments and other resources to change unjust or harmful corporate policies, working for peace, economic justice and stewardship of the Earth. More information is available at www.iccr.org.

CONTACT: Daniel Rosan,
Program Director, ICCR
212-870-2317 // drosan @ iccr.org

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